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EUR/USD
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

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Wall Street
Bearish
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High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

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Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

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GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

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  • What's the difference between leading and lagging indicators? Find out from @RichardSnowFX here:https://t.co/vGx8HCagF5 https://t.co/j8PEFYbEqr
  • The $USD fell as an improvement in sentiment slowed aggressive capital outflows from emerging markets and #ASEAN economies. What do USD/SGD, USD/MYR, USD/IDR and USD/PHP face next? Find out from @ddubrovskyFX here: https://t.co/3SQYf5Y0Vx https://t.co/lodbsqO94L
  • The $USD may return to the offensive as markets flee to cash amid fears of deep global recession thanks to the still-raging #coronavirus outbreak. Get your US Dollar update from @IlyaSpivak here: https://t.co/g1us4ZbYR5 https://t.co/detT6m6ZKo
  • The #Dow Jones, S&P 500 and #DAX 30 have bounced after aggressive declines. Can this momentum last? Trader positioning seems to be offering mixed signals as technicals point bearish. Get your market update from @ddubrovskyFX here:https://t.co/DdCUyoGSmL https://t.co/NQtbwy5Brg
  • Reports that London-based fund managers have discussed long market closures with the Bank of England are unlikely to bear fruit, but that they happened at all may boost already-crowded haven trades. Get your EUR/CHF market update from @DavidCottleFX here:https://t.co/mernf5MDH3 https://t.co/1rzQT6ClCY
  • $AUD chart positioning suggests prices have set a swing top near the 0.62 figure. Re-engaging the long-term downtrend against $USD may follow. Get your AUD/USD market update from @IlyaSpivak here:https://t.co/OIEDlId6HZ https://t.co/CzqJf3wsgh
  • The $USD could be on the verge of regaining upside momentum against ASEAN FX such as the Singapore Dollar, Indonesian Rupiah and Malaysian Ringgit. Will the Philippine Peso follow? Find out from @ddubrovskyFX here:https://t.co/cBzPejcNHu https://t.co/4fcImOiSzD
  • $NZD chart positioning suggests the downtrend against its US namesake may be resuming but trader sentiment studies flash warning sign for sellers.Get your NZD/USD market update from @IlyaSpivak here:https://t.co/NUHD43A8C9 https://t.co/K7l3Ju0GP0
  • The Federal Reserve has made a powerful statement about its commitment to shoring up offshore $USD funding markets through the #coronavirus spread. Get your market update from @DavidCottleFX here:https://t.co/fLZjxjr4L9 https://t.co/UdRor0d92U
  • The #Euro has dropped through support guiding it higher from late-March lows, suggesting that the end of a corrective rebound has given way to downtrend resumption. Get your $EURUSD market update from @IlyaSpivak here: https://t.co/gpKowYNmGi https://t.co/CY7RuZf91s
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The Dow Jones, Nasdaq 100 and S&P 500 pushed into record highs without much interruption this past week. This is despite a revision to China’s method in counting coronavirus cases, which resulted in an unexpected surge of roughly 15k reports. The markets also brushed off the Fed committing to reducing the size of term and overnight repo operations as the balance sheet swelled.

The pro-risk Australian Dollar and similarly-behaving New Zealand Dollar rose, with the latter helped by a neutral RBNZ rate decision. The British Pound shined as well, fueled by expectations of fiscal stimulus that undermined dovish BoE monetary policy bets. Sentiment-linked crude oil prices appeared to find a bottom as the anti-risk Japanese Yen traded sideways and the Euro sank.

We begin the new week with Wall Street offline for Presidents’ Day, lowering levels of liquidity in financial markets. Globally, low levels of inflation have kept most central banks in a persistent accommodative mode. That may diminish the impact of UK, Canadian, Japanese and Eurozone CPI data on the GBP, CAD, JPY and EUR respectively over the next 5 trading days.

The FOMC meeting minutes will be of a particular focus, with policymakers tending to maintain neutral views on interest rates. That contrasts starkly with the markets dovish expectations which may be disappointed, risking a sour mood on Wall Street which may benefit the Yen and US Dollar. Other event risk includes the Iranian legislative election, EU budget talks and ZEW surveys.

Fundamental Forecast:

US Dollar Outlook Bullish on FOMC Minutes, Coronavirus, Iran

The US Dollar may rise if the FOMC minutes cool 2020 rate cut bets and may be amplified by demand for liquidity amid the spread and impact of the coronavirus and Iran election.

Australian Dollar Remains on Virus Watch As Key Jobs Data Loom

The Australian Dollar will move with coronavirus headlines but a couple of domestic data points may offer a little respite.

USD/MXN Outlook: Rate-Cut Highlights Mexican Peso Carry Trade Value

The Mexican Peso reinforces its carry trade value despite Banxico cutting rates by 25 basis points.

Gold Weekly Forecast: A Growing Case For a Range Break

The price of gold has remained in check for the past couple of weeks and is looking to break a narrowing technical pattern, fueled by growing fears that the coronavirus is still spreading.

Dow Jones, Nasdaq 100, DAX 30 Forecasts for the Week Ahead

The week ahead will see the release of the Fed’s January meeting minutes which could offer insight on the central bank’s willingness to cut rates and expand the balance sheet – two crucial tailwinds

Technical Forecast:

GBP/USD Rate Rebound Undermined by Bearish Trend in RSI

The Relative Strength Index (RSI) undermines the recent rebound in GBP/USD as the indicator continues to track the bearish trend carried over from December.

Gold Prices on the Brink of Breakout with Key Levels in View

Gold prices have coiled up between trend-defining technical barriers, hinting that a pivotal breakout establishing lasting direction is brewing ahead.

Canadian Dollar Outlook: USD/CAD Chart Looking Lower in Week Ahead

The US Dollar rolled over from resistance versus the Canadian Dollar; looks like a bit more weakness ahead at the least.

Euro Breaks Down -Euro Technical Forecast: EUR/USD, EUR/JPY, EUR/CHF

It was a tough week for the single currency as Euro sellers ran amok. But, retail traders appear to be trying to pick a low – keeping the door open for further losses.

Dow Jones, Nasdaq 100, DAX 30, Nikkei 225 Technical Outlook Ahead

The Dow Jones, Nasdaq 100 and Nikkei 225 face fading upside momentum as the DAX 30 eyes a sign of indecision after hitting record highs. What is the technical global stocks outlook?

Currency Performance

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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